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Columbia Business School’s Adjunct Professor Oliver Chen provided commentary to CNBC reporter Melissa Repko on the appointment of Michael Fiddelke as Target’s new CEO. Professor Chen highlighted that the leadership change comes at a pivotal moment for the retailer, amid mounting competition, shifting consumer preferences, and underwhelming same-store sales. He explained that Fiddelke’s priority to revitalize Target’s merchandise, enhance in-store experience, and accelerate tech adoption reflects a broader imperative in retail: standing still is no longer an option. “You can’t stand still,” Chen noted when discussing the company’s need to evolve in the age of TikTok and rapid trend-cycling.
